Whether you want to win the Powerball or the Mega Millions, there are a few things you should know. The odds of winning are 1 in 292.2 million.
There have been five jackpots over $1 billion, but only one has been claimed. This means there are billions of dollars in unclaimed lottery prizes each year.
Powerball tickets are sold in 45 states, Puerto Rico, and the U.S. Virgin Islands. To win the jackpot, you must match the five white balls with the red Powerball. You also have a chance of winning a prize if you win two of the smaller prizes.
The jackpot started at $20 million on August 6 and has grown since. Ticket prices have increased, which has prompted more players to buy tickets. A record jackpot inspired Janice Lusky Greenspan to buy 15 tickets. She usually buys five or 10 tickets at a time.
If you win the jackpot, you have a choice of a lump sum or a 20-year annuity. If you choose a lump sum, you will receive 60% of the jackpot stated. If you choose the annuity, you will receive the remaining 40%. You will also be responsible for paying tax on the prize.
Powerball tickets cost $2 per play. Buying more tickets increases your odds of winning. When buying more tickets, you increase your chances of splitting the jackpot.
The Powerball jackpot has been growing since August. The largest ticket sold was in Altadena, California, which had odds of winning the jackpot of one in 292.2 million. The winner hasn’t claimed the prize yet, but the owner hopes the winner will come forward.